Industry

DX picks up City Link assets for £1.125M

Buckinghamshire-based parcels and logistics firm DX has acquired some of the assets of the collapsed City Link business.

In a statement to the stock market earlier this morning, DX said it had bought a range of assets and items including “cages, scanners and certain intellectual property for a total cash consideration of £1.125M.”

Petar Cvetkovic, chief executive of DX, said: “It is very sad that City Link has been unable to continue as a going concern, particularly for its employees and contractors. The Administrators are now proceeding with an orderly sale of assets and we have made a limited investment to acquire certain assets. We are also doing all we can to provide opportunities for former City Link employees and contractors and to offer solutions to customers who may need a new carrier.”

Other businesses have stepped forward in the wake of City Link’s demise to attempt to offer support to customer and employees.

In the days following the collapse of City Link, APC Overnight announced a series of recruitment initiatives aimed at former City Link employees, while Jersey Post said it would ensure that any parcels delivered to the island by City Link would be dealt with and delivered as anticipated.